IPO Details
Bidding Dates
14 Jan '24 - 16 Jan '24
Minimum Investment
₹14,630 / 1 Lots ( 35 Shares )
Price Range
₹397 - ₹418
Maximum Investment
₹190,190 / 13 Lots ( 455 Shares )
Retail Discount
Not Applicable
Issue Size
₹1,171.58 Cr
Investor category and sub category
Qualified Institutional Buyers | Non-Institutional Investors | Retail Individual Investors |IPO Dates
Important dates with respect to IPO allotment and listing
IPO Open Date
Jan 14, 2024
IPO Close Date
Jan 16, 2024
Basis of Allotment
Jan 17, 2024
Initiation of Refunds
Jan 18, 2024
Credit of Shares to Demat Account
Jan 18, 2024
IPO Listing Date
Jan 21, 2024
UPI Mandate Expiry Date
Jan 16, 2024
IPO Subscription Details
| Date | QIB | NII | Retail | Others |
|---|---|---|---|---|
Day 1Jan 14, 2024 |
0.00x | 0.45x | 0.90x | |
Day 2Jan 15, 2024 |
0.01x | 1.61x | 1.72x | |
Day 3Jan 16, 2024 |
5.60x | 5.75x | 2.51x |
IPO Subscription Live Status
| Investor Category | Subscription (Times) |
|---|---|
| Qualified Institutions Buyers | 5.60 |
| Non-Institutional Buyers | 5.75 |
| Retail Investors | 2.51 |
| Total | 4.09 |
About Company
Incorporated in 2000, Medi Assist Healthcare Services Limited is a health-tech and insurance-tech company which manages health benefits for employers, retail members, and public health schemes, primarily serving insurance companies. It provides third-party administration services to insurance companies via its wholly owned subsidiaries, Medi Assist TPA, Medvantage TPA and Raksha TPA.
As a third-party administrator, the company operates as a facilitator between insurance companies and their policyholders, insurance companies and healthcare providers, and the Government and beneficiaries of public health schemes.
India's health insurance sector is playing a critical role in reducing s Out-of-pocket (OOP) and total incurred expenditures while meeting healthcare needs on the back of the maturing health insurance market and increasing insurance penetration as a solution for health financing.
Medi Assist Healthcare Services Limited IPO Details
Medi Assist Healthcare Services Limited IPO Date
Medi Assist Healthcare Services Limited IPO is a 100% offer for sale by which the company is planning to raise up to ₹1,171.58 crore. Medi Assist Healthcare Services Limited’s IPO will open on January 15, 2024. It is a book-built issue IPO.
Medi Assist Healthcare Services Limited IPO Price Band
The price range of the IPO has not been fixed yet.
Medi Assist Healthcare Services Limited IPO Lot Size
The lot size of the IPO has not been fixed yet.
Medi Assist Healthcare Services Limited IPO Objectives
The company will not receive any proceeding from the offer. All proceeds from the offer will go to the selling shareholders.
Peer Details
As per RHP, the company has no listed peers.
How To Check the Allotment Status of the Medi Assist Healthcare Services Limited IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app
- Go to the IPO Section and then to IPO Orders
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
Contact Details of Medi Assist Healthcare Services Limited
Registered office: Tower D, 4th floor, IBC Knowledge Park, 4/1 Bannerghatta
Road, Bengaluru 560 029, Karnataka, India
Phone: (+91 80) 6919 0000
Company Financials
| Particulars | Period Ending on September 30, 2023 | Year Ending on March 31, 2023 | Year ending on March 31, 2022 | Year ending on March 31, 2021 |
|---|---|---|---|---|
| Total Income | 3,120.29 | 5,189.55 | 4,120.23 | 3,455.74 |
| Profit After Tax (PAT) | 224.86 | 740.42 | 642.18 | 262.74 |
| Assets | 8,026.19 | 7,057.16 | 6,022.30 | 5,452.95 |
| Total Borrowings | 0.77 | 0.77 | 0.00 | 0.00 |
Know before investing
Strengths
2-
The company’s subsidiaries, Medi Assist TPA, Medvantage TPA and Raksha TPA, are well-established third-party administrators in India. This helped the company in increasing retail and group premiums by 31.91% compared to the prior year.
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The company have developed a diversified base of corporates, whereby it serves health insurance requirements. In addition, it has established longstanding relationships with them.
Risks
2-
The company is exposed to risks arising from a decline in insurance companies outsourcing claims processing and other related activities to third-party administrators. This could impact its business, results of operations and financial condition.
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The company is subject to various statutory obligations, non-compliance of which could result in penalties, legal actions, or financial liabilities.
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Medi Assist Healthcare IPO FAQs
Medi Assist Healthcare Services Limited IPO is a 100% offer for sale. The company is planning to raise up to ₹1,171.58 crore.
The Basis of Allotment will be on January 18, 2024.
The Basis of Allotment will be on January 18, 2024.
The IPO subscription window will open on January 15, 2024.
The lot size of the IPO has not been fixed yet.
Medi Assist Healthcare Services Limited IPO will be listed on BSE and NSE. The date of listing is January 22, 2024.
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app
- Go to the IPO Section and then to IPO Orders
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
Listing gains cannot be ascertained before listing the IPO on the stock exchange.
Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.
You must complete the payment process by logging in to your UPI handle and approving the payment mandate.
You can submit only one application using your PAN card.
